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What is a title loan?

Updated: 10/21/2022
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Wiki User

11y ago

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A title loan is also known as car title loan. It is a type of secured loan where you can use your vehicle title as collateral to get the funds you need. When you borrow with your car title, you allow the lender to place a lien on the title of your car, SUV, RV, truck, or motorcycle in exchange for a loan amount. This loan don't rely on your credit score.

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Robert

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2y ago
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11y ago

'Title Loan' is a loan you will be getting of having a car loan on your on name.

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Can I get my name off the title and loan of my ex-son in law's van if he still has a loan on the van?

The loan must be paid off and you must sign the title over in order to get the title and loan out of your name and responsibility.The loan must be paid off and you must sign the title over in order to get the title and loan out of your name and responsibility.The loan must be paid off and you must sign the title over in order to get the title and loan out of your name and responsibility.The loan must be paid off and you must sign the title over in order to get the title and loan out of your name and responsibility.


What is Title loan?

A title loan is also known as car title loan. It is a type of secured loan where you can use your vehicle title as collateral to get the funds you need. When you borrow with your car title, you allow the lender to place a lien on the title of your car, SUV, RV, truck, or motorcycle in exchange for a loan amount. This loan don't rely on your credit score.


Can one title loan company find out if you already have a title loan?

Yes, they would obviously know about it. When a title loan company offers you a title loan, it will check the car title well in advance. When it checks the title, it will easily come to know about any liens.


Bought a car out of state but loan is with your bank Who receives the title?

The bank receives the title until the loan is paid. If the loan is paid off then you receive the title.


Is there a statute of limitations of a title loan in Alabama?

No, there is no statute of limitations on a title loan in the state of alabama. As long there is a recorded security interest on your car title i.e." Lien" you are obligated to repay your title loan


Can you sell a vehicle if the cosigner refuses to sign off on the loan?

The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.


Can you go to jail for title loan?

Can u go to jail for now paid a title loan


Can you get a title loan without vehicle inspection?

Can u get a title loan without a vehicle inspection


What is the cost of a title loan?

The cost of a title loan can vary based on what country or state the title loan is being written in. Be sure to verify pricing at a local level before purchasing.


Can your car be repossessed on a title loan after gone into collections?

Yes, your car can be repossessed if the title loan is in collections. Actually, this is one of the most common ways for a defaulted title loan to be settled.


I there someone around that will give a motorcycle title loan ?

“I there someone around that will give a motorcycle title loan ”


What is the typical term length of a title loan?

The typical term length of a title loan is 3 years.